When the CEO held a virtual town hall in 2020 and said there needed to be layoffs, I knew I would be one of the first to go because I served zero purpose at that point.
At least 125 employees, which is more than 20% of the company's workforce, were let go as Underdog shifts away from some of its traditional offerings and leans more heavily into prediction markets. Teams in fraud operations, marketing, customer support, and product were among those affected.
Up to 5 per cent of the group's global workforce could be affected, according to people familiar with the discussions, although talks remain at an early stage and no final decision has been taken. An announcement could come as soon as this month. The majority of redundancies are expected to fall at Ocado's UK head office, with technology roles likely to be among those affected alongside back-office functions such as legal, finance and human resources.
